Chevron did not immediately respond to a request for comment. The oil producer has announced spending cuts to cope with an unprecedented fall in oil prices and a slump in demand due to the COVID-19 pandemic. In March, Chevron began offering severance payments to its U.S. oil exploration and production employees if they chose to leave the company.

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We at Insider Monkey have gone over 821 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of March 31st, near the height of the coronavirus market crash. In this article, we look at what those funds think […]

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Lufthansa’s $10 billion government bailout was thrown into doubt on Wednesday after the German airline’s supervisory board refused to accept the conditions attached by Brussels. The board, which had been expected to sign off on the aid, instead refused EU requirements that Lufthansa permanently give up take-off and landing slots at Frankfurt and Munich airports, where it commands a two-thirds market share. The bailout plan nevertheless remains “the only viable alternative” to insolvency, Lufthansa said, and negotiations will continue over EU demands that would “lead to a weakening” of its airport hubs as well as its ability to repay loans.

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Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out […]

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(Bloomberg) — Tesla Inc.’s overnight price cuts suggest the coronavirus is putting a bigger damper on demand than has been reflected in the electric-car maker’s share price, two analysts said.The $5,000 reductions for the Model S and X and $2,000 cut for the Model 3 were an “acknowledgment that Tesla isn’t immune to material North American demand weakness,” Craig Irwin, an analyst at Roth Capital Partners, said in a report Wednesday.“With the stock trading in the stratosphere,” Roth wrote, “the key question is, ‘Can Tesla continue to deliver an interesting growth rate in the U.S.?’”Credit Suisse’s Dan Levy said the discounts change the narrative around the company’s volume this quarter. Prior to the price cuts, investors were concerned that demand would be limited by tight inventory. The company shut down production at its lone U.S. auto plant on March 23 and rushed to reopen the facility — initially without local authorities’ permission — in mid May.Tesla shares slumped as much as 4.1% and were down 2.3% to $800 as of 11:30 a.m. in New York. The stock has soared more than 90% this year.Read more: Costly Electric Vehicles Confront a Harsh Coronavirus RealityFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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The coronavirus hit retailers hard, causing businesses to file for bankruptcy across the world. Peter Kaufman, Gordian Group President joins Yahoo Finance’s On The Move panel to weigh in on the differences between chapter 7 and chapter 11 bankruptcy.

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Brown Advisory recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Large-Cap Growth Fund posted a return of -13.05% for the quarter, outperforming its benchmark, the Russell 1000 Growth Index which returned -14.10% in the same quarter. You should check out Brown Advisory’s top 5 stock picks for […]

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Last week, the Senate passed a bill to take on Chinese companies listed on U.S. stock exchanges. Soon, the rest of Washington appears poised to act.

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Economic Policy Institute Senior Economist Robert Scott joins Yahoo Finance’s Zack Guzman to discuss the his outlook on the economy as states slowly begin to reopen.

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(Bloomberg) — Amazon.com Inc.’s talks to buy driverless vehicle startup Zoox Inc. has analysts speculating the deal could save the e-commerce giant tens of billions a year and put auto, parcel and ride-hailing companies on their heels.Shipping costs are one of Amazon’s largest expenses and may reach $90 billion in the coming years, Morgan Stanley’s internet, auto and transport analysts wrote in a report Wednesday. An autonomous offering could save the company more than $20 billion annually, they estimate.“Autonomous technology is a natural extension of Amazon’s efforts to build its own third party logistics network,” Morgan Stanley’s analysts wrote. They see the company being a “clear” competitor to the likes of Tesla Inc. and General Motors Co. and the potential for Amazon to compete in ride-sharing and food delivery. United Parcel Service Inc. and FedEx Corp. also “will have to respond to keep up.”Other companies in the automotive and chip industries have also held talks with Zoox about a potential investment, according to people familiar with the matter. At least one other business besides Amazon has offered to buy the company, they added. Zoox is unlikely to sell for less than the more than $1 billion that it has raised, according to the people, who asked not to be identified discussing private negotiations.“Zoox has been receiving interest in a strategic transaction from multiple parties and has been working with Qatalyst Partners to evaluate such interest,” the startup said Tuesday. It declined to comment on Amazon’s interest. A spokeswoman for Amazon declined to comment.Zoox had outsize ambition and financial backing. The startup wanted to build a fully driverless car by this year. However, after a 2018 funding round that valued Zoox at $3.2 billion, the startup’s board voted to oust Chief Executive Officer Tim Kentley-Klay. The executive criticized the move, saying the directors were “optimizing for a little money in hand at the expense of profound progress.”Dow Jones reported that Amazon is in advanced talks to buy Zoox for less than the $3.2 billion valuation from 2018.Amazon is willing to spend heavily to automate its e-commerce business. The online retail giant purchased warehouse robot-maker Kiva Systems Inc. in 2012 for $775 million and now has tens of thousands of robots in warehouses around the world.But paying drivers to deliver packages is still one of the biggest costs in the company’s operation. Chief Executive Officer Jeff Bezos announced plans for drone delivery in 2013, though they have yet to materialize at scale. Last year, Amazon revealed an experimental delivery robot called Scout in the Seattle area that rolls on sidewalks like a shopping cart.Last year, Amazon invested along with Silicon Valley venture firm Sequoia Capital in self-driving startup Aurora Innovation Inc., a startup led by the former heads of Google’s driverless car project and Tesla’s Autopilot team. Amazon also backed Rivian Automotive Inc., the electric pickup and SUV maker. Those bets left Morgan Stanley’s auto analyst questioning earlier this month whether Tesla’s rich valuation is warranted given the competitive threats the company faces.“We often hear from investors that Tesla could potentially be the Amazon of transportation,” Adam Jonas, who rates Tesla the equivalent of a hold, wrote in a May 17 report. “But what if Amazon is the Amazon of transportation?”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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